As interest rates rise, it would typically be a positive for $XLF. Yet here we see the Financial sector XLF trailing against SPY and reaching an important resistance point (SPY itself is also stalling against other defensives). Keep an eye on this one for clues as to market rate expectations.
Comment:
What a week it was, that line spiked up as interest rates moved higher. XLF is now on the verge of breaking thru the charted indecision area.